Community Value Assets

What is a Community Value Asset?

Community Value Assets are land and buildings that have provided an important service in a community, and may do in the future, such as:

  • local pubs
  • local shops
  • village halls
  • post offices

The Localism Act provides communities with a local connection a right to identify such assets which, if they came up for sale, they would want to try and purchase.

The Act does not give a right to buy the property in question but it does give potential bidders the time to put a proposal together.

Who can show an interest to buy, and how?

Local community and voluntary bodies, as well as parish and town councils, are able to identify and nominate assets for inclusion on a register of assets of community value, and if an asset on the register comes up for sale, community bodies may have up to six months in which to raise the capital and bid to buy the asset, before it can be sold on the open market.

Community groups have to meet certain criteria and provide supporting evidence to be eligible to nominate an asset:

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